sensex today: ET Market Watch: Sensex up 970 points, Nifty up 21,456 points after US Fed policy outcome
-Indian stocks hit record highs on Friday, led by banking, financial and IT stocks.
-Sensex rose 969 points today to close above the 71,400 level while Nifty rose 274 points to close at 21,456 points.
Performance by sector
Nifty IT rose 4.5%, while Nifty Metal and Nifty PSU Bank surged over 2%. Nifty Auto, FMCG, Media and Realty declined. The rise in tech stocks came after the Federal Reserve acknowledged it was making real progress in easing inflation while keeping interest rates on hold.
winners and losers
In the Sensex pack, HCL Tech, TCS and Infosys were the biggest gainers, up 5-6 per cent. SBI, Tata Steel, Tech Mahindra, NTPC and Wipro also closed higher. Conversely, only Nestlé, Bharti Airtel, Maruti and ITC ended in loss.
stocks in the news
Newly listed IREDA shares closed down 10% after rising for seven straight days.
PNB closed 1.5 per cent higher as the public sector bank became the third PSU lender to cross the Rs 1-lakh-crore market capitalization mark after its stock price surged nearly 80 per cent in the last six months.
global market
Asian stock markets soar to their highest in four months due to a plunge in the dollar and a Federal Reserve-led rally.
Japan’s Nikkei index rose 1%. The Chinese blue chip gave up previous gains to fall 0.3% and hit a new five-year low. However, Hong Kong’s Hang Seng Index rebounded 2.2%.
U.S. 10-year yields fell 2 basis points to 3.913%, a 33 basis point weekly decline, the strongest decline since pandemic volatility in March 2020.
Rupees and Oil
The Indian rupee rose .40% to close at 82.99 per dollar due to huge dollar inflows and rising markets.
Oil prices rose due to the International Energy Agency’s (IEA) outlook for crude oil demand next year and the weakening dollar.
Brent crude oil futures traded at $76.82 per barrel, and U.S. WTI crude oil futures traded at $71.79.
